{"article":{"id":"2221253","title":"Delisting of shares of 'Louis family' that Mr. Do Thanh Nhan once inflated","description":"Ho Chi Minh City Stock Exchange (HoSE) has just announced the mandatory delisting of The Golden Group Joint Stock Company (TGG), which was once related to Mr. Do Thanh Nhan.","contentObject":"
According to HoSE, TGG shares are being monitored for violations, trading suspension and inspection.
\nOn September 11, TGG was suspended from trading due to the listed organization violating regulations on information disclosure on the stock market after being placed on the restricted trading list. Currently, TGG has not yet disclosed the 2022 audited financial report, 6 months after the prescribed deadline.
\nOn October 4, TGG was inspected for being 30 days late in submitting its 2023 semi-annual audited financial report. TGG has not yet disclosed its 2023 audited financial report and is 45 days past the deadline.
\nOn October 31, The Golden Group issued an official dispatch to facilitate the company to submit its 2022 audited financial statements no later than November 15. To date, the company has yet to announce its 2022 audited financial statements and its 2023 semi-annual audited financial statements.
\nAccording to HoSE, since the time of suspension of trading, the company's information disclosure violations have not been resolved and are likely to continue to occur and prolong, seriously violating the obligation to disclose information and affecting the rights of shareholders.
\nThe Golden Group JSC was previously known as Truong Giang Investment and Construction JSC. Mr. Do Thanh Nhan and a group of shareholders related to Louis Holding acquired it and changed its name to Louis Capital.
\nAt that time, this stock was only priced at VND 1,800/share. Under Mr. Nhan's manipulation, TGG's price increased continuously, reaching a peak of VND 74,800/share (September 2021).
\nAfter Mr. Nhan was arrested and sentenced to 5.5 years in prison for stock manipulation, the stock price fell to rock bottom, causing many investors to suffer heavy losses. Meanwhile, the company changed its name to The Golden Group.
\nClosing session on November 30, TGG traded at 2,370 VND/share, down nearly 97% from the peak and with no transactions.
\nBusiness News
\nThe stock market has a number of other important events of listed companies.
\n* LDG: On November 27, the Inspectorate of the State Securities Commission (SSC) issued a Decision on administrative sanctions against LDG Investment JSC for late announcement of the Explanation of Profit After Corporate Income Tax and late announcement of the audited 2022 Semi-Annual Financial Statements to the Hanoi Stock Exchange (HNX). For this violation, LDG was administratively fined VND 65 million by the SSC.
\n* DHC: On November 28, Dong Hai Ben Tre Joint Stock Company announced that it had received a decision to impose a penalty for violations due to incorrect declaration leading to a shortage of corporate income tax from the Ben Tre Provincial Tax Department. The total amount of tax arrears, fines and late payment fees is more than 443 million VND.
\n* DCM : Ca Mau Petroleum Fertilizer Joint Stock Company - Ca Mau Nitrogen Fertilizer aims to complete the acquisition of Han - Viet Fertilizer Company Limited (KVF) for 25 million USD by the end of 2023 to double the capacity of the NPK fertilizer segment.
\n* YEG: On December 15, Yeah1 Group Corporation will close the list of shareholders to issue bonus shares. The issuance ratio is 1,000:722, meaning that shareholders owning 1,000 shares will receive 722 new shares.
\n* POM: Ms. Do Thi Kim Lang, sister of Mr. Do Duy Thai, Chairman of the Board of Directors of Pomina Steel Company, registered to sell all 353,788 shares, reducing ownership from 0.13% of charter capital to 0%. The transaction is expected to take place from December 4 to January 2, 2024.
\n* HNX: On December 5, HNX organized an auction of shares of Northern Electrical Equipment Joint Stock Company (NEEM) owned by the Northern Power Corporation (EVNNPC).
\n* PGB: The Board of Directors of Petrolimex Joint Stock Commercial Bank (PG Bank) has just approved the implementation of increasing charter capital from VND 3,000 billion to VND 5,000 billion by issuing 120 million bonus shares to existing shareholders, at a ratio of 10:4.
\n* VND: VNDirect Securities Corporation has registered to buy nearly 2.9 million PTI shares of the Post and Telecommunication Insurance Corporation. The transaction is expected to take place from December 1 to December 31, through negotiation and/or order matching on the stock exchange.
\nVN-Index
\nAt the end of the trading session on November 30, VN-Index decreased by 8.67 points (-0.79%) to 1,094.13 points, HNX-Index decreased by 0.88 points (-1.39%) to 226.15 points, UpCOM-Index decreased by 0.06 points (-0.06%) to 84.99 points.
\nAgriseco Securities said that VN-Index is at the convergence zone of many MA lines and has not yet confirmed a clear trend. Momentum indicators in the neutral zone also show that buyers and sellers are in a state of balance.
\nAgriseco Research believes that the market is accumulating with a gradually narrowing range, VN-Index may continue to form a price base with alternating up and down sessions before forming a new trend. Investors should limit new disbursements to wait for more accumulation signals or breakthroughs with liquidity of sufficient reliability from the market.
\nAccording to VCBS Securities, profit-taking pressure on T+ caused the market to lose steam, reversing to decrease points but still sticking closely to the MA20 moving average.
\nMost indicators on the daily chart are still breaking sideways, in which ADX is still maintained at the 25 area, so there is a high probability that VN-Index in the short term will continue to trade in a zigzag correction wave with alternating up and down sessions.
\n
View author's postsHo Chi Minh City Stock Exchange (HoSE) has just announced the mandatory delisting of The Golden Group JSC (TGG), which was once related to Mr. Do Thanh Nhan.
According to HoSE, TGG shares are being monitored for violations, trading suspension and inspection.
On September 11, TGG was suspended from trading due to the listed organization violating regulations on information disclosure on the stock market after being placed on the restricted trading list. Currently, TGG has not yet disclosed the 2022 audited financial report, 6 months after the prescribed deadline.
On October 4, TGG was inspected for being 30 days late in submitting its 2023 semi-annual audited financial report. TGG has not yet disclosed its 2023 audited financial report and is 45 days past the deadline.
On October 31, The Golden Group issued an official dispatch to facilitate the company to submit its 2022 audited financial statements no later than November 15. To date, the company has yet to announce its 2022 audited financial statements and its 2023 semi-annual audited financial statements.
According to HoSE, since the time of suspension of trading, the company's information disclosure violations have not been resolved and are likely to continue to occur and prolong, seriously violating the obligation to disclose information and affecting the rights of shareholders.
The Golden Group JSC was previously known as Truong Giang Investment and Construction JSC. Mr. Do Thanh Nhan and a group of shareholders related to Louis Holding acquired it and changed its name to Louis Capital.
At that time, this stock was only priced at VND 1,800/share. Under Mr. Nhan's manipulation, TGG's price increased continuously, reaching a peak of VND 74,800/share (September 2021).
After Mr. Nhan was arrested and sentenced to 5.5 years in prison for stock manipulation, the stock price fell to rock bottom, causing many investors to suffer heavy losses. Meanwhile, the company changed its name to The Golden Group.
Closing session on November 30, TGG traded at 2,370 VND/share, down nearly 97% from the peak and with no transactions.
Business News
The stock market has a number of other important events of listed companies.
* LDG: On November 27, the Inspectorate of the State Securities Commission (SSC) issued a Decision on administrative sanctions against LDG Investment JSC for late announcement of the Explanation of Profit After Corporate Income Tax and late announcement of the audited 2022 Semi-Annual Financial Statements to the Hanoi Stock Exchange (HNX). For this violation, LDG was administratively fined VND 65 million by the SSC.
* DHC: On November 28, Dong Hai Ben Tre Joint Stock Company announced that it had received a decision to impose a penalty for violations due to incorrect declaration leading to a shortage of corporate income tax from the Ben Tre Provincial Tax Department. The total amount of tax arrears, fines and late payment fees is more than 443 million VND.
* DCM : Ca Mau Petroleum Fertilizer Joint Stock Company - Ca Mau Nitrogen Fertilizer aims to complete the acquisition of Han - Viet Fertilizer Company Limited (KVF) for 25 million USD by the end of 2023 to double the capacity of the NPK fertilizer segment.
* YEG: On December 15, Yeah1 Group Corporation will close the list of shareholders to issue bonus shares. The issuance ratio is 1,000:722, meaning that shareholders owning 1,000 shares will receive 722 new shares.
* POM: Ms. Do Thi Kim Lang, sister of Mr. Do Duy Thai, Chairman of the Board of Directors of Pomina Steel Company, registered to sell all 353,788 shares, reducing ownership from 0.13% of charter capital to 0%. The transaction is expected to take place from December 4 to January 2, 2024.
* HNX: On December 5, HNX organized an auction of shares of Northern Electrical Equipment Joint Stock Company (NEEM) owned by the Northern Power Corporation (EVNNPC).
* PGB: The Board of Directors of Petrolimex Joint Stock Commercial Bank (PG Bank) has just approved the implementation of increasing charter capital from VND 3,000 billion to VND 5,000 billion by issuing 120 million bonus shares to existing shareholders, at a ratio of 10:4.
* VND: VNDirect Securities Corporation has registered to buy nearly 2.9 million PTI shares of the Post and Telecommunication Insurance Corporation. The transaction is expected to take place from December 1 to December 31, through negotiation and/or order matching on the stock exchange.
VN-Index
At the end of the trading session on November 30, VN-Index decreased by 8.67 points (-0.79%) to 1,094.13 points, HNX-Index decreased by 0.88 points (-1.39%) to 226.15 points, UpCOM-Index decreased by 0.06 points (-0.06%) to 84.99 points.
Agriseco Securities said that VN-Index is at the convergence zone of many MA lines and has not yet confirmed a clear trend. Momentum indicators in the neutral zone also show that buyers and sellers are in a state of balance.
Agriseco Research believes that the market is accumulating with a gradually narrowing range, VN-Index may continue to form a price base with alternating up and down sessions before forming a new trend. Investors should limit new disbursements to wait for more accumulation signals or breakthroughs with liquidity of sufficient reliability from the market.
According to VCBS Securities, profit-taking pressure on T+ caused the market to lose steam, reversing to decrease points but still sticking closely to the MA20 moving average.
Most indicators on the daily chart are still breaking sideways, in which ADX is still maintained at the 25 area, so there is a high probability that VN-Index in the short term will continue to trade in a zigzag correction wave with alternating up and down sessions.
Source
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